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Greenland Minerals and Energy
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Oct 11th 2012
Greenland Minerals and Energy MD Rod McIllree acquires more sharesGreenland Minerals and Energy's (ASX: GGG) managing director Roderick McIllree continues to increase his shareholding on-market with the purchase of a further 200,000 shares.
McIllree acquired the shares for a total consideration of A$59,000, providing an average entry price of $0.295.
He now holds nearly 12 million shares, 2.8 million performance options in three tranches and 2.7 million performance rights, also in three tranches.
Greenland Minerals and Energy is focused on securing 100% ownership of the
Kvanefjeld multi-element project in Greenland.
Demonstrating the strong support for the company and the Kvanefjeld project, Greenland recently closed a $15 million capital raising oversubscribed to fund the move to full ownership.
The capital raising follows major advances in the development of the company's core asset.
Greenland Minerals and Energy continues to optimise the Kvanefjeld project, which is recognised as one of the world's largest resources of heavy and light rare earth elements and uranium.
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Greenland Minerals and Energy's (ASX: GGG) flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Kvanefjeld is rapidly growing into one of the worlds
largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride.
Author: Angela Kean +61 2 9299 5001action@proactiveinvestors.com.au
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